Hi,members can any one plese explain "deffered tax" and its calculation

Dear Sir,

In FY 2011-12 the companies Profit & Loss accounts Books Profit shows the Rs. 22,25,475/-as on 31st March-2012.
Profit & Loss accounts includes the Long Term Capital Gain on Share for RS.14,35,345/- & Dividend Rs.34710/-.

While preparing computation of income of the company the normal Tax Due is Rs.2,65,241/- and the MAT due is RS.4,24,064/-. Long Term Capital Gain for Rs.14,35,345/- & Dividend Rs.34,710/- is exempt U.S. 10(38).

MAT due is correct or not. What can i do. What is the actual accounts treatment

Kindly give the suggestion as earliest.

Thanks & Regards


(N. Kadam)

Dear Sir,

i want to place some electric goods order for my comopany office please provide a purchase order formate

Hi
I purchased a Fabricated steel structure for my plant and it was damaged during transportation to my site place, and for the same i paid a repairs expense for bringing the structure again in usable condition.So please advice what accounting treatment should be done with reapairs expense and the guiding rule or as para for the same.

is it correct that since r and p account only includes actual receipts and payments trf entries(eg.cash to bank ) are not included in it ?

Cn any one provide amendments applicable in may 12 attempt for advance accounting of IPCC group 2. . Please its urgent. . . Thnx in advance. . . .

30% of creditors were reduced to the extent of 30%.
Does it means 30% of 30%
or
does it means 70% of 30%. However,
In one of the textbook, the statement was
Creditors were reduced to the extent of Rs.100000/
Actual Creditors were Rs.160000/
The entry passed by them was
Creditors A/c Dr. 100000
To Cap. Reduction 100000
Please HELP

Govt has granted us subsidy against installation of solar which is installed but subsidy is not received yet. whether fixed asset to be reduced & subsidy to be shown as receivable in balance sheet for 31.03.2012. or accounted on receipt only?

As per the revised Schedule VI continuing default on payment of long term borrowing should be disclosed.it also require current maturities of long term borrowing to be included under other current liabilities.My query is whether the amount of loan due but not paid (ie defaulted in payment) be included in Long term borrowing or Other current liabilities.

Dear Experts plz consider the following case:
The company in which i am working has Rs 34055 Tds receivable as on 31.03.2011 which has been shown in their balance sheet under head current assets. The tax liability for that year(2010-11)came to Rs 11634. So there is refund of Rs. 22421 which has been received by company on 11-2-12. Now how TDS standing on 31.3.11 of Rs 34055 and Tax paid of Rs 11634 and Refund of Rs 22421 is to be adjusted in balance sheet as on 31.03.2012?
Thanx and Regards.